Common use of Holders To Be Subrogated to Rights of Holders of Senior Indebtedness Clause in Contracts

Holders To Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full, in cash or Cash Equivalents, of the Senior Indebtedness, the Holders shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company applicable to the Senior Indebtedness until the Securities shall be paid or converted in full. For the purposes of such subrogation, no such payments or distributions of cash, property or securities of the Company to the holders of the Senior Indebtedness by or on behalf of the Company or by or on behalf of the Holders by virtue of this Article X which otherwise would have been made to the Holders shall, as between the Company and the Holders, be deemed to be a payment by the Company to or on account of the Senior Indebtedness, it being understood that the provisions of this Article X are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities, on the one hand, and the holders of the Senior Indebtedness, on the other hand.

Holders To Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full, full in cash or Cash Equivalents, Equivalents of the all Senior Indebtedness, the Holders of the Notes shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company LNR applicable to the Senior Indebtedness until the Securities Notes shall be paid or converted in full. For ; and, for the purposes of such subrogation, no such payments or distributions of cash, property or securities of the Company to the holders of the Senior Indebtedness by or on behalf of the Company LNR or by or on behalf of the Holders by virtue of this Article X which otherwise would have been made to the Holders shall, as between the Company LNR and the HoldersHolders of the Notes, be deemed to be a payment by the Company LNR to or on account of the Senior Indebtedness, it being understood that the provisions of this Article X are and are intended solely for the purpose of defining the relative rights of the Holders of the SecuritiesNotes, on the one hand, and the holders of the Senior Indebtedness, on the other hand.

Holders To Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full, full in cash or Cash Equivalents, Equivalents of the all Senior Indebtedness, the Holders of the Notes shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company applicable to the Senior Indebtedness until the Securities Notes shall be paid or converted in full. For ; and, for the purposes of such subrogation, no such payments or distributions of cash, property or securities of the Company to the holders of the Senior Indebtedness by or on behalf of the Company or by or on behalf of the Holders by virtue of this Article X Ten which otherwise would have been made to the Holders shall, as between the Company and the HoldersHolders of the Notes, be deemed to be a payment by the Company to or on account of the Senior Indebtedness, it being understood that the provisions of this Article X Ten are and are intended solely for the purpose of defining the relative rights of the Holders of the SecuritiesNotes, on the one hand, and the holders of the Senior Indebtedness, on the other hand.

Holders To Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full, full in cash or Cash Equivalentscash equivalents, or such payment duly provided for to the satisfaction of holders of such Senior Indebtedness, of the all Senior Indebtedness, the Holders Lenders shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or distributions of cash, property assets or securities of the Company any Borrower applicable to the Senior Indebtedness until the Securities Loans shall be paid or converted in full. For ; and, for the purposes of such subrogation, no such payments or distributions of cash, property or securities of the Company to the holders of the Senior Indebtedness by or on behalf of the Company any Borrower, or by or on behalf of the Holders Lenders by virtue of this Article X X, which otherwise would have been made to the Holders Lenders shall, as between the Company Borrowers and the HoldersLenders, be deemed to be a payment by the Company Borrowers to or on account of the Senior Indebtedness, it being understood that the provisions of this Article X are and are intended solely for the purpose of defining the relative rights of the Holders of the SecuritiesLenders, on the one hand, and the holders of the Senior Indebtedness, on the other hand.

Holders To Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full, full in cash or Cash Equivalents, or such payment duly provided for to the satisfaction of the holders of such Senior Indebtedness, of all Senior Indebtedness, the Holders of the Notes shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or distributions of cash, property assets or securities of the Company applicable to the Senior Indebtedness until the Securities Notes shall be paid or converted in full. For ; and, for the purposes of such subrogation, no such payments or distributions of cash, property or securities of the Company to the holders of the Senior Indebtedness by or on behalf of the Company Company, or by or on behalf of the Holders by virtue of this Article X Ten, which otherwise would have been made to the Holders shall, as between the Company and the Holders, be deemed to be a payment by the Company to or on account of the Senior Indebtedness, it being understood that the provisions of this Article X Ten are and are intended solely for the purpose of defining the relative rights of the Holders of the SecuritiesHolders, on the one hand, and the holders of the Senior Indebtedness, on the other hand.

Holders To Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment and satisfaction in full, full in cash or Cash Equivalents, Instruments of the all Senior Indebtedness, the Holders of the Notes shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company applicable to the Senior Indebtedness until the Securities Notes shall be paid or converted in full. For ; and, for the purposes of such subrogation, no such payments or distributions of cash, property or securities of the Company to the holders of the Senior Indebtedness by or on behalf of the Company or by or on behalf of the Holders by virtue of this Article X Ten which otherwise would have been made to the Holders shall, as between the Company and the HoldersHolders of the Notes, be deemed to be a payment by the Company to or on account of the Senior Indebtedness, it being understood that the provisions of this Article X Ten are and are intended solely for the purpose of defining the relative rights of the Holders of the SecuritiesNotes, on the one hand, and the holders of the Senior Indebtedness, on the other hand.

Holders To Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full, full in cash or Cash Equivalents, Equivalents of the all Senior Indebtedness, the Holders of the Notes shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or distributions of cash, property assets or securities of the Company applicable to the Senior Indebtedness until the Securities Notes shall be paid or converted in full. For ; and, for the purposes of such subrogation, no such payments or distributions of cash, property or securities of the Company to the holders of the Senior Indebtedness by or on behalf of the Company Company, or by or on behalf of the Holders by virtue of this Article X 12, which otherwise would have been made to the Holders shall, as between the Company and the Holders, be deemed to be a payment by the Company to or on account of the Senior Indebtedness, it being understood that the provisions of this Article X 12 are and are intended solely for the purpose of defining the relative rights of the Holders of the SecuritiesHolders, on the one hand, and the holders of the Senior Indebtedness, on the other hand.

Holders To Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full, full in cash or Temporary Cash Equivalents, Investments of the all Senior Indebtedness, the Holders shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company applicable to the Senior Indebtedness until the Securities Obligations owing under the Notes shall be paid or converted in full. For ; and, for the purposes of such subrogation, no such payments or distributions of cash, property or securities of the Company to the holders of the Senior Indebtedness by or on behalf of the Company Company, or by or on behalf of the Holders by virtue of this Article X Eleven, which otherwise would have been made to the Holders shall, as between the Company and the Holders, be deemed to be a payment by the Company to or on account of the Senior Indebtedness, it being understood that the provisions of this Article X Eleven are and are intended solely for the purpose of defining the relative rights of the Holders of the SecuritiesHolders, on the one hand, and the holders of the Senior Indebtedness, on the other hand.

Holders To Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full, full in cash or Cash Equivalents, of the all Senior Indebtedness, the Holders shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company applicable to the Senior Indebtedness until the Securities Obligations owing under the Notes shall be paid or converted in full. For ; and, for the purposes of such subrogation, no such payments or distributions of cash, property or securities of the Company to the holders of the Senior Indebtedness by or on behalf of the Company Company, or by or on behalf of the Holders by virtue of this Article X 12, which otherwise would have been made to the Holders shall, as between the Company and the Holders, be deemed to be a payment by the Company to or on account of the Senior Indebtedness, it being understood that the provisions of this Article X 12 are and are intended solely for the purpose of defining the relative rights of the Holders of the SecuritiesHolders, on the one hand, and the holders of the Senior Indebtedness, on the other hand.

Holders To Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full, full in cash or Cash Equivalents, Equivalents of the all Senior Indebtedness, the Holders of the Securities shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company applicable to the Senior Indebtedness until the Securities shall be paid or converted in full. For ; and, for the purposes of such subrogation, no such payments or distributions of cash, property or securities of the Company to the holders of the Senior Indebtedness by or on behalf of the Company or by or on behalf of the Holders by virtue of this Article X 11 which otherwise would have been made to the Holders shall, as between the Company and the HoldersHolders of the Securities, be deemed to be a payment by the Company to or on account of the Senior Indebtedness, it being understood that the provisions of this Article X 11 are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities, on the one hand, and the holders of the Senior Indebtedness, on the other hand.